DIY retailer B&Q Ireland has acquired three leasehold stores, currently trading as Homebase, in the Republic of Ireland for around £3.2million.

The three stores – with a combined selling area of over 9,300sqm – add to B&Q’s existing eight store network in the Republic of Ireland.

Located in Letterkenny, Navan and Waterford, the stores will be converted to B&Q and will offer its associated home improvement products and services.

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These include Kingfisher own exclusive brands, B&Q’s kitchen and bathroom design and installation services, TradePoint counters, timber cutting and paint mixing, and click & collect and home and bulk delivery services at diy.ie.

The agreement for the stores is subject to landlord and customary regulatory approvals, with the expectation that the transactions will complete in the first quarter of Kingfisher FY 2025/26.

B&Q will convert to its banner the first of these stores in the first half of next year and aims to complete the conversion of all sites by the end of calendar year 2025.

Capital expenditure relating to the store acquisitions and fit-out costs will be incurred in Kingfisher FY 2025/26.

On completion of the acquisition, following a period of consultation with the employees at the three stores, they will become employees of B&Q.

It follows on from Homebase entering administration, which saw owner of The Range and Wilko CDS Superstores acquire Homebase brand name, intellectual property and up to 70 stores.

B&Q CEO Graham Bell said: “We’re delighted to be adding these three stores to our fantastic store network.

“We’re determined to give home improvers the choice and convenience they deserve, and these locations need a home improvement store that fulfils their need.

“We look forward to swiftly concluding the purchase and converting the stores to the B&Q brand and offer, and to welcoming our new customers to the stores and new colleagues to the B&Q family.”